Bank Credit Weekly: Inflation, the Next Market Challenge or Opportunity?
The recent back-up in US rates may be an opportunity to reload in some Emerging Markets. A US inflation spike is the next hurdle. EM High Yield,...
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Bank Credit Weekly: One Size Does Not Fit All
Performance attributes varied amongst bank credit classes. Short duration in IG financials combined with high credit spreads in HY and more...
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Bank Credit Weekly: Melt-Up in Asset Prices or Melt-Down in Conviction?
Melt-up in asset prices or melt-down in conviction? Short callable AT1 bonds led the ongoing rally in bank credit. Tier 2 bonds suggest more of a...
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Bank Credit Weekly: Asia’s Higher Risk Notes Outperform in Thin Markets
Asia’s AT1, Subordinated and high yield Senior Unsecured bonds outperformed over the holiday shortened week. Thin markets were directionless, so we...
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Bank of East Asia: Move to Overweight the Capital Inefficient Securities from Buy
We move to Overweight Bank of East Asia’s capital inefficient securities as these securities have outperformed their peers since our Buy...
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